Nintendo slashing price of 3DS

Nintendo will slash the price of its 3DS handheld gaming device in Japan from mid August.

The price cut comes as the company deals with lackluster sales and the launch later this year of Sony's PlayStation Vita.

The price of 3DS will be cut by 40 percent from ¥25,000 to ¥15,000 (US$320 to $192) on August 11. Such a steep drop in price less than six months since launch is unusual for a gaming device and indicates the pressure Nintendo is under to make the 3DS a success.

Nintendo's overseas units are due to announce similar price cuts shortly, a spokesman for the Kyoto-based company said.

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